A further rise in crude oil prices has sparked a move lower in USD/CAD at Monday's North American open. The correlation between light crude and USD/CAD over a 30-day moving average is firm at -0.89, according to CQG. USD/CAD was already trending lower early Monday on cautious optimism that a deal to avert the US fiscal cliff problems would be forthcoming. USD/CAD support seen at 0.9965 and 0.9939, while resistance holds around 1.0019 and 1.0056, BMO's Matt Perrier says. USD/CAD at 0.9969, down 0.44%.
Find us on Google+
No comments:
Post a Comment